First Interstate Bank Sells 543 Shares of Phillips 66 (NYSE:PSX)

First Interstate Bank lessened its stake in Phillips 66 (NYSE:PSX) by 17.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,564 shares of the oil and gas company’s stock after selling 543 shares during the period. First Interstate Bank’s holdings in Phillips 66 were worth $341,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Cornerstone Planning Group LLC boosted its position in shares of Phillips 66 by 134.8% during the 3rd quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 151 shares in the last quarter. First Capital Advisors Group LLC. bought a new stake in shares of Phillips 66 during the 2nd quarter valued at about $25,000. Bruce G. Allen Investments LLC bought a new stake in shares of Phillips 66 during the 4th quarter valued at about $36,000. West Branch Capital LLC boosted its position in shares of Phillips 66 by 49.5% during the 4th quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 91 shares in the last quarter. Finally, Bell Investment Advisors Inc boosted its position in shares of Phillips 66 by 82.1% during the 3rd quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 138 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Insider Activity at Phillips 66

In related news, VP Joseph Scott Pruitt sold 7,200 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the completion of the sale, the vice president now directly owns 6,583 shares of the company’s stock, valued at $1,035,242.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Phillips 66 news, VP Joseph Scott Pruitt sold 7,200 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total value of $1,132,272.00. Following the completion of the sale, the vice president now directly owns 6,583 shares of the company’s stock, valued at $1,035,242.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert W. Pease bought 682 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was purchased at an average cost of $146.58 per share, with a total value of $99,967.56. Following the completion of the transaction, the director now directly owns 1,900 shares of the company’s stock, valued at $278,502. The disclosure for this purchase can be found here. Over the last three months, insiders sold 35,056 shares of company stock valued at $5,272,681. 0.22% of the stock is owned by insiders.

Phillips 66 Stock Down 1.9 %

Shares of Phillips 66 stock traded down $3.02 on Tuesday, hitting $157.80. The company had a trading volume of 1,863,804 shares, compared to its average volume of 3,039,164. The stock has a market capitalization of $67.51 billion, a price-to-earnings ratio of 10.26, a P/E/G ratio of 2.05 and a beta of 1.37. Phillips 66 has a 1 year low of $89.74 and a 1 year high of $174.08. The stock has a 50 day moving average of $153.64 and a 200-day moving average of $134.51. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.02 and a current ratio of 1.26.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Wednesday, January 31st. The oil and gas company reported $3.09 EPS for the quarter, topping the consensus estimate of $2.37 by $0.72. The firm had revenue of $38.74 billion during the quarter, compared to the consensus estimate of $34.30 billion. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. As a group, sell-side analysts forecast that Phillips 66 will post 13.2 earnings per share for the current year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.92%. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date is Friday, May 17th. Phillips 66’s dividend payout ratio (DPR) is presently 27.15%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Raymond James upped their target price on Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. StockNews.com upgraded Phillips 66 from a “hold” rating to a “buy” rating in a research report on Saturday, February 10th. Scotiabank increased their price target on Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. Wells Fargo & Company increased their price target on Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Finally, Piper Sandler increased their price target on Phillips 66 from $169.00 to $187.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Phillips 66 currently has a consensus rating of “Moderate Buy” and an average price target of $156.86.

Phillips 66 Profile

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.